Startup Complete Package

1. Who can register with the India startup?

An entity incorporated as a Private Limited Company, a Partnership Firm or a Limited Liability Partnership may register as part of the India start-up scheme. The annual turnover of these business entities should not exceed 100 crores and should have been in existence for up to ten years from the date of their incorporation / registration. Such an entity should work towards innovation, development or improvement of products or services or processes.

2. Can a foreign company be eligible to register under India's start-up hub?

Any entity that has at least one place of work in India is eligible to register at the hub. It provides location-based preferences and is now created solely for Indian states. However, we are working on international relations and we will be able to list stakeholders on the global network.

3. Will an OPC is eligible to avail advantages of startup India?

OPC stands to one person company and these firms are eligible to avail advantages of the startup India initiative.

4. Will an Partnership Firm is eligible to avail advantages of startup India?

Yes. a partnership firm is eligible for all the benefits except tax incentives which are provided to a recognised startups

5. Why are investors investing in startups?

Investing in start-ups may be a risky proposition, but the low demand for overhead capital combined with high side potential makes it profitable for investors to separate their stakes in start-ups.

6. What is the Validity of Startup Registration certificate?

Up to 10 years from the date of incorporation/registration or valid until its turnover in any previous year does not exceed Rs. 100 crores, whichever is earlier.

7. Whether The Tax Exemption Is Attached By Default With All Startup Recognition?

No. According to the current notification dated 11.04.2018, in order to claim Tax benefit or exemption under the income tax act, one is required to apply separately after getting the startup recognized.

8. How To File an Application for tax exemption procedure after recognised by DIPP?

• Make signup and create login credentials on the startup India portal.
• One has to make an application for startup recognition which is pre-requisite for the next tax holiday request. On positive validation and approval of application, the startup shall obtain a "certificate of recognition" with DIPP number.
• From now the registered establishment are eligible to get tax benefit or tax holiday after the approval from IMB (Inter-ministerial Board) and the following landmark is to make an application u/s 80-IAC online.
• The application shall be examined for uniqueness, innovation, scalability and significance of sector and other parameters by using the "Technical Agency" who shall put up the case within the next meeting. Before this stage, if some clarification is required to be sought, the utility is moved for resubmission and therefore the query is communicated through email. Each startup gets three probabilities of resubmissions which include the primary utility made.
• On approval from IMB in its assembly comprising of various officials, a "certificate of eligibility" is issued to the startup or the application is rejected.
• DPIIT number with details of startup application and other tax benefit certificate details is to be feed into ITR at the time of claiming exemption.

9. How do I know that my registration is complete?

Once the application has been completed and the startup has been recognized, you will receive a system-generated certificate of recognition. You will be able to download this certificate from the portal Startup India.

10. Who Is The Authority For Issuing Startup Recognition Certificate?

Startup Recognition Certificate is issued by the Ministry of Commerce and Industry (Department for Promotion of Industry and Internal Trade).